Turtle Beach Posts $118.8M Q4 Revenue, Sets 2026 Guidance of $335–355M
Turtle Beach delivered Q4 net revenue of $118.8 million, gross margin of 40.1% (up 310bp), net income of $17.6 million and Adjusted EBITDA of $28.1 million, while FY2025 revenue reached $319.9 million with 37.3% gross margin, $15.7 million net income and $40.1 million Adjusted EBITDA. The company repurchased $19.0 million of shares in 2025 and initiated 2026 guidance calling for $335–355 million revenue (5–11% growth) and $44–48 million Adjusted EBITDA (10–20% growth).
1. Fourth Quarter and Full Year 2025 Results
Turtle Beach reported Q4 net revenue of $118.8 million with a 40.1% gross margin, net income of $17.6 million and Adjusted EBITDA of $28.1 million. For FY2025, revenue totaled $319.9 million, gross margin reached 37.3%, net income was $15.7 million and Adjusted EBITDA hit $40.1 million.
2. Share Repurchase Program
The company repurchased 1.35 million shares for $19.0 million in 2025 at an average price of $14.09, bringing total buybacks since 2024 to nearly $47 million. As of December 31, 2025, $58 million remained under the current repurchase authorization.
3. 2026 Financial Outlook and Guidance
Turtle Beach initiated 2026 guidance with net revenue expected between $335 million and $355 million (5–11% growth) and Adjusted EBITDA of $44 million to $48 million (10–20% growth). The outlook assumes initial market softness in Q1 followed by gradual improvement through product launches and industry catalysts.